Sensex, Nifty recover sharply on value buying

Our Bureau Mumbai | Updated on November 23, 2021

Metals shine but private bank remains weak; Volatility index rises above 18

Benchmark indices recovered to trade flat during the afternoon on Tuesday.

Market opened on a weak note amid mixed global cues and slumped further during the early trade. Benchmark indices recovered from early losses to trade, led by sharp recovery in metals, PSU Bank and pharma stocks. However, losses in heavyweight financials kept the market under check.

At 1 pm, the BSE Sensex, after slumping over 800 points at 57,718.34, was trading at 58,444.99, down 20.90 points or 0.04 per cent. It recorded an intraday high of 58,602.70. The Nifty 50 was trading at 17,439.45, up 22.90 points or 0.13 per cent, near its intraday high of 17,486.40. It recorded an intraday low of 17,216.10.

The volatility index rose 3.35 per cent to 18.11, ahead of F&O expiry.

JSW Steel, Powergrid, Coal India, Tata Steel and Bharti Airtel were the top gainers on the Nifty 59 while IndusInd Bank, Asian Paints, Hindustan Unilever, Infosys and ICICI Bank were the top laggards.

Metals shine

On the sectoral front, all indices except Nifty Bank and Nifty Private Bank were in the green. Metals, realty, PSU Bank, pharma and healthcare indices recorded the highest gains.

Nifty Metal was up 2.97 per cent while Nifty Realty was up 2.12 per cent. Nifty Pharma and Nifty Healthcare Index were up 1.62 per cent and 1.38 per cent, respectively. Nifty PSU Bank was up 1.88 per cent.

Meanwhile Nifty Bank was down 0.04 per cent while Nifty Private Bank was down 0.21 per cent.

Broader indices

The broader market rebounded sharply with midcap and smallcap indices outperforming the benchmarks.

Nifty Midcap 50 was up 1.61 per cent while Nifty Smallcap 50 was up 1.45 per cent. The S&P BSE Midcap was up 1.30 per cent while the S&P BSE Smallcap was up 1.37 per cent.

Published on November 23, 2021

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